State Duma of the Russian Federation reviewed a draft law on ratifiсation of the Convention on Mutual Administrative Assistance in Tax Matters
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State Duma of the Russian Federation reviewed a draft law on ratifiсation of the Convention on Mutual Administrative Assistance in Tax Matters

Recently, the State Duma of the Russian Federation reviewed a draft law on ratification of the OECD Convention on Mutual Administrative Assistance in Tax Matters, which was signed by Russia at the summit G20 in November 2011.

As a result of the ratification of the Convention, the Federal Tax Service of Russia will be able to interact with tax authorities of 67 countries acceded to the Convention (http://www.oecd.org/ctp/exchange-of-tax-information/Status_of_convention.pdf) for the purpose of obtaining any information relevant for the administration or enforcement of laws concerning to taxes covered by the Convention, including information on individuals and companies - taxpayers, their participation in international corporate structures, including beneficial ownership, financial statements, information on bank accounts, property etc.

The Convention provides for the following forms of cooperation with foreign tax authorities:

• Exchange of information on taxpayers (companies or individuals) on request, automatic and spontaneous exchange of information;

• Simultaneous tax examination and tax examinations abroad;  

• Assistance in recovery of tax claims, including measures of conservansy;

• Service of documents relating to judicial acts and taxes to which the provisions of the Convention apply.

It should be noted that the Convention defines standards of secrecy and protection of the information received by the tax authorities.

According to the head of the Federal Tax Service of Russia, Mikhail Mishustin, after the ratification of the Convention it will take two years more for the introduction of a mechanism of exchanging information according to established forms of international legal assistance, of which about a year will be spent on the development of an appropriate regulatory framework and six months on the technical issues.

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